Biota Holdings (BTA)

Investors in
Biota Holdings
just had a horror week as the pharmaceutical company’s share price crashed 32.8 per cent in four days’ trading to finish at $1.35 on Friday. The 66¢ nosedive came as Biota said it expected royalties from the Relenza flu drug to slow in the March and June quarters as fears about swine flu faded worldwide. Biota’s management gave a gloomy outlook when it said the upcoming June quarter was typically the lowest of the year, because of the approaching northern hemisphere summer. The company’s shares are now down 44 per cent for 2010, a far cry from the $3.41 they hit last September. Biota reported net profit after tax of $33.5 million for the half year ended December 31, with revenue up 84 per cent on the year-earlier period.Anthony Macdonald